Meituan (OTCMKTS:MPNGF) Trading 3.9% Higher – Here’s What Happened
by Jessica Moore · The Cerbat GemMeituan (OTCMKTS:MPNGF – Get Free Report)’s stock price shot up 3.9% during mid-day trading on Tuesday . The stock traded as high as $8.52 and last traded at $8.52. Approximately 200 shares were traded during mid-day trading, a decline of 98% from the average session volume of 11,057 shares. The stock had previously closed at $8.1980.
Analysts Set New Price Targets
Separately, Citigroup raised Meituan to a “buy” rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.00.
Check Out Our Latest Analysis on Meituan
Meituan Stock Performance
The company has a 50-day moving average of $9.99 and a two-hundred day moving average of $10.96.
Meituan Company Profile
Meituan is a leading Chinese technology-driven platform that facilitates on-demand delivery and local services through its mobile application and website. The company offers a wide range of services, including food delivery, in-store dining, grocery and fresh produce delivery, ride sharing, and hotel and travel bookings. Leveraging an extensive network of local merchants and service providers, Meituan connects millions of users with convenient, real-time access to everyday services and experiences across urban and suburban communities in Mainland China.
Founded in June 2010 by serial internet entrepreneur Wang Xing, Meituan originally launched as a group-buying platform before expanding its offerings to encompass multiple verticals in the online-to-offline (O2O) economy.